In your view, what is the most significant difference between the Tinker and Hawkins decisions, and why? Your answer need not be longer than 3-4 sentences. Note that there are numerous significant differences, and there is no sole "right" answer.
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- * Please be advised this is for practice preperation only ** i just really need help on this - I dont undertsand X is an arbitrary number Suppose the stage game was played for 3 rounds. Consider the following strategy: Round 1: play C. Round 2: play C if both players played C in round 1. Otherwise, play E. Round 3: play D if both players played C in rounds 1 and 2. Otherwise, play E.Ignore discounting (that is, δ = 1). Suppose that both players pick the strategy above. What condition on x is needed to make this strategy profile a SPNE? Hint: remember to check for possible deviations separately for rounds 1 and 2.(a) 5 ≥ x(b) 7 ≥ x(c) 9 ≥ x(d) 11 ≥ x(e) 13 ≥ xYou and a coworker are assigned a team project on which your likelihood or a promotion will be decidedon. It is now the night before the project is due and neither has yet to start it. You both want toreceive a promotion next year, but you both also want to go to your company’s holiday party that night.Each of you wants to maximize his or her own happiness (likelihood of a promotion and mingling withyour colleagues “on the company’s dime”). If you both work, you deliver an outstanding presentation.If you both go to the party, your presentation is mediocre. If one parties and the other works, yourpresentation is above average. Partying increases happiness by 25 units. Working on the project addszero units to happiness. Happiness is also affected by your chance of a promotion, which is depends on howgood your project is. An outstanding presentation gives 40 units of happiness to each of you; an aboveaverage presentation gives 30 units of happiness; a mediocre presentation gives 10 units…You must have learned that we cannot be always rational decision maker. Now, Tell us specifically about your experience when you made a nonrational decision making. How does this decision-making align with the satisfying model and the intuition model? (Show an example for both models) Satisficing model Intuition model
- Look again at Figure 21.12. It appears that the investor in panel b can't lose and the investor in panel a can' t win. Is that correct? Note: The solution should not be hand written.Say there are two individuals; Hala and Anna who are deciding on either to buy health insurance on a pooling arrangement basis or otherwise. Both face a 30% probability of losing RM40 on medical services and 70% of losing nothing. With these information discuss whether Hala and Anna should join this arrangement or pay the medical services costs out of their own pocket money.A new government lottery has been announced. Each person who buys a ticket submits an integer between 0 and 100. The winner is the person whose submission is closest to four-fifths of the average of all submissions. If ties occur, the price will be shared. If Chloe expects other players to select numbers randomly, what number should she choose? Chloe should choose the number (a)_____ if you expect all other players to exhibit the same depth of reasoning as Chloe, what number would you choose? you should choose the number (b)______
- Actual authority is the authoritya partner appears to have to third parties external to the partnership.O. TrueO. FalseSuppose that the buyers do not know the quality of any particular bicycle for sale, but the sellers do knowthe quality of the bike they sell. The price at which a bike is traded is determined by demand and supply.Each buyer wants at most one bicycle.(ii) Assuming that each buyer purchases a bike only if its expected quality is higher than the price,and each seller is willing to sell their bike only if the price exceeds their valuation, what is theequilibrium outcome in this market?Choice under uncertainty. Consider a coin-toss game in which the player gets $30 if they win, and $5 if they lose. The probability of winning is 50%. (a) Alan is (just) willing to pay $15 to play this game. What is Alan’s attitude to risk? Show your work. (b) Assume a market with many identical Alans, who are all forced to pay $15 to play this coin-toss game. An insurer offers an insurance policy to protect the Alans from the risk. What would be the fair (zero profit) premium on this policy? can you help me for par (b) plase?
- Choice under uncertainty. Consider a coin-toss game in which the player gets $30 if they win, and $5 if they lose. The probability of winning is 50%. (a) Alan is (just) willing to pay $15 to play this game. What is Alan’s attitude to risk? Show your work.(b) Assume a market with many identical Alans, who are all forced to pay $15 to play this coin-toss game. An insurer offers an insurance policy to protect the Alans from the risk. What would be the fair (zero profit) premium on this policy? i need help with question B please.Microeconomics Wilfred’s expected utility function is px1^0.5+(1−p)x2^0.5, where p is the probability that he consumes x1 and 1 - p is the probability that he consumes x2. Wilfred is offered a choice between getting a sure payment of $Z or a lottery in which he receives $2500 with probability p = 0.4 and $3700 with probability 1 - p. Wilfred will choose the sure payment if Z > CE and the lottery if Z < CE, where the value of CE is equal to ___ (please round your final answer to two decimal places if necessary)Suppose that Winnie the Pooh and Eeyore have the same value function: v(x) = x1/2 for gains and v(x) = -2(|x|)1/2 for losses. The two are also facing the same choice, between (S) $1 for sure and (G) a gamble with a 25% chance of winning $4 and a 75% chance of winning nothing. Winnie the Pooh and Eeyore both subjectively weight probabilities correctly. Winnie the Pooh codes all outcomes as gains; that is, he takes as his reference point winning nothing. For Pooh: What is the value of S? What is the value of G? Which would he choose? Eeyore codes all outcomes as losses; that is, he takes as his reference point winning $4. For Eeyore: What is the value of S? What is the value of G? Which would he choose?